By: Jason Kincaid | TechCrunch.com
Read It Later, the popular service that lets you bookmark a webpage and access it later from any smartphone, computer, or tablet, has raised a $2.5 million funding round. The round marks the company’s first external funding, and includes investments from Foundation Capital (which led the round), Baseline Ventures, Google Ventures, Founder Collective, and several angel investors.
RIL founder Nathan Weiner originally started the company back in August 2007, and he was the only person working on it up until early this year — during which time he built out the web product, multiple mobile applications, and a userbase of millions. As the service took off Weiner moved out to Silicon Valley where he received multiple acquisition offers, but decided to keep the company independent. He’s also started growing the team, which is up to five.
Weiner wants RIL to “do for web content what Tivo did for TV content”, in the sense that it lets them consume what they want, when they want it. He says Read It Later also has a mission that similar to Drobox’s: it wants to give you access to that content on any of your devices, be it a phone, tablet, television, or computer, without having to think about where you saved what.